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AEW UK REIT PLC - London-based real estate investment trust for UK regional commercial property - Posts higher net asset value in the year ended March 31. Net asset value rises 22% to 120.63 pence per share from 99.15p a year ago and to £191.1 million from £157.1 million. Net asset value total return jumps to 30% from 15%.
Firm declares an 8.0 pence dividend, unchanged from a year ago. Pretax profit doubles to £46.7 million from £22.2 million in 2020.
Company says high inflation and war in Ukraine ‘may further damage consumer and investor sentiment as real income and wealth levels are reduced.’ It adds: ‘We consider that bond yields are likely to remain low with central banks reluctant to push economies into recession, particularly in times of war.’
Current stock price: 117.09 pence, down 1.1% on Wednesday
12-month change: up 23%
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